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The Cboe Volatility index fell on Friday, extending its recent decline as the U.S. stock market continued to rebound. The VIX fell 3.1%, or 0.4 point, to 12.83. The day's decline marked its seventh straight daily drop, its longest streak in about a year. The index was poised for its first close below 13 since Jan. 26. For the week, the VIX fell 13.4%, its fifth straight weeekly decline, the lenthiest period of losses since August 2016. The VIX has completely erased the massive spike it saw in early February, when concerns over inflation saw Wall Street's so-called "fear index" more than double in a single session amid a stock selloff that sparked a correction for major indexes. The Dow Jones Industrial Average ended the session up 0.4% on Friday, representing its seventh consecutive positive day--the longest such period for the average since November. The S&P 500 closed 0.2% higher. The Nasdaq Composite Index fell less than 0.1%.
Dow finishes up 0.4%; S&P 500 ends day 0.2% higher
U.S. stocks closed out a strong week with slight moves on Friday, with equities mostly rising but investors finding few reasons to push shares significantly higher. The Dow Jones Industrial Average rose 0.4% to 24,830. The gain marked the Dow's seventh straight positive session, its longest winning streak since November. The S&P 500 gained 0.2% to 2,728. The Nasdaq Composite Index dipped less than 0.1% to 7,403. Friday's decline was the first loss for the Nasdaq of the past six sessions. The Russell 2000 index of small-capitalization stocks rose 0.2%; it is 0.5% below its all-time high. For the week, the Dow rose 2.3%, the S&P rose 2.4% and the Nasdaq rose 2.7%. Some of the positive tone on the day came from the import price index, which rose less than expected in April, helping to calm fears about the level of inflation in the market. On the downside, Nvidia Corp. fell 2.2% a day after its results, weighing on both chipmakers and the tech sector overall. That in turn pressured the Nasdaq.
Nasdaq ends trading at break-even level
S&P 500 posts gain, powered by health-care, telecommunications sectors
Dow ends higher for seventh straight day as health-care stocks rally
Healthcare stocks dipped after President Donald Trump started presenting his plan to cut prescription drug costs, then bounced sharply to trade even higher than pre-speech levels. The SPDR Health Care Select Sector ETF was up about 0.5% before Trump's speech began, then slid to be down 0.1% swinging higher to be up 1.1% at a new intraday high. Among shares of the ETF's four most heavily weighted components, which were all also Dow Jones Industrial Average components: Johnson & Johnson went from a gain of 0.8% to a gain of 0.5%, but is now up 0.9%; Pfizer Inc. was up 0.8%, then up 0.2%, and now up 1.2%; UnitedHealth Group Inc. went from a 0.8% gain to a 0.3% loss, but was now up 1.3%; and Merck & Co. Inc. was up 1.2%, then up just 0.5%, and was now up 2.3%. Some changes to policy announced by Trump and Health and Human Services Secretary Alex Azar included drug price negotiation by government programs, an end to the "gag rule" on pharmacists--who cannot disclose if drug products can be bought for cheaper without using a health plan -- and disclosure of drugs' list prices pharmaceutical advertisements.
The Dow Jones Industrial Average briefly turned negative Friday afternoon, as President Donald Trump announced a series of changes intended to overhaul health-care policy in the U.S. At last check, the Dow was up 51 points at 24,790, after turning lower soon after the president began to explain his health-care proposal. The S&P 500 index , meanwhile, was trading up a slight 0.1% at 2,724, while the Nasdaq Composite Index , was off 0.2% at 7,389, at last check. All three appeared to shave their initial knee-jerk move lower. Trump said that he would push to bring down drug prices by increasing competition among drug manufacturers. Drug-related companies, maintained healthy gains with the exchange-traded iShares Nasdaq Biotechnology ETF, a popular way to bet on the biotech industry, gaining 1.6%, gathering momentum Trump's comments on the health care and pharmaceutical industry. Meanwhile, Dow components Johnson & Johnson , Pfizer Inc. UnitedHealth Group Inc. and Merck & Co. Inc. were all trading firmly in positive territory.
Shares of C.H. Robinson Worldwide Inc. rallied 2.2% in midday trade Friday, enough to pace the Dow Jones Transportation Average's gainers, after the freight transportation company boosted its share repurchase program. The company said late Thursday that it was adding 15 million shares to its buyback program, which had 1.2 million shares remaining in the program that was authorized in 2013. With 139,237,319 shares outstanding as of May 10, the company can now reduce its shares outstanding by about 11.6%. The stock's price gain of $1.88 was adding about 11.5 points to the Dow transports' price, which was up 99 points, or 0.9%. Meanwhile, the Dow Jones Industrial Average was up 52 points, or 0.2%.
GE's stock falls 1% to pace Dow losers
U.S. stock funds are on track for a third straight month of outflows as investors grow wary of the aging bull market.
A Tuesday stock market rally is putting major indexes on track to close above a key technical level, signaling they're regaining momentum after a rough stretch this year.
U.S. stocks' selloff intensified in afternoon trade Friday as fears mount about the impacts of a trade spat between the U.S. and China.
Stock investors have at least one reason for optimism: earnings season.
Whereas nothing seemed to faze the market in 2017, everything seems to be faze it in 2018.
A stock market selloff deepened on Monday after, led by high-flying technology stocks.
Major stateside stock benchmarks are pacing for a better annual performance than much of the rest of the world, despite a volatile few weeks.
It's quite likely the new chair will see more market volatility during his term than did his predecessor. Janet Yellen's time at the helm was marked by mostly serene markets.
Money is flowing back into stocks, a sign that investors believe the market will keep climbing after the recent selloff.
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IPC Indice de Precios Y Cotizaciones |
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Merck & Co. Inc. | |||
UnitedHealth Group Inc. | |||
Home Depot Inc. | |||
Johnson & Johnson | |||
Pfizer Inc. | |||
Walmart Inc. | |||
Chevron Corp. | |||
Nike Inc. Cl B | |||
VISA Inc. Cl A | |||
Caterpillar Inc. | |||
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Walt Disney Co. | |||
United Technologies Corp. | |||
Procter & Gamble Co. | |||
Travelers Cos. Inc. | |||
McDonald's Corp. | |||
3M Co. | |||
American Express Co. | |||
DowDuPont Inc. | |||
International Business Machines Corp. | |||
Coca-Cola Co. | |||
Microsoft Corp. | |||
Goldman Sachs Group Inc. | |||
Apple Inc. | |||
JPMorgan Chase & Co. | |||
Boeing Co. | |||
Intel Corp. | |||
General Electric Co. | |||
Cisco Systems Inc. |